Business

Public investment disbursement acceleration helps promote economic growth

Prime Minister Pham Minh Chinh has requested ministries and sectors speed up administrative reform and disbursement of public investment, towards promoting economic activities to create jobs and livelihoods for people.
Public investment disbursement acceleration helps promote economic growth ảnh 1Illustrative image (Photo: baodautu.vn)

Hanoi (VNA) – Prime Minister Pham Minh Chinh has requested ministries and sectors speed up administrative reform and disbursement of public investment, towards promoting economic activities to create jobs and livelihoods for people.

Addressing a recent conference to discuss measures to remove difficulties in implementing projects, he underlined the need to approve projects early, accelerate land clearance and construction, and provide enough construction materials for contractors.

According to the Ministry of Planning and Investment (MPI), in the first quarter of 2023, over 73.19 trillion VND (3.1 billion USD) was pumped into the economy, equivalent to 10.35% of the plan assigned by the Prime Minister, lower than the 11,88% in the same period last year.

Up to 30 ministries and centrally-run agencies have yet to disburse public investment while the remainder’s disbursement was below the national average, said MPI Minister Nguyen Chi Dung.

The slow disbursement was attributed to the incomplete investment procedures of some projects.

Public investment disbursement acceleration helps promote economic growth ảnh 2Illustrative image (Photo: VNA)

Experts said it is necessary to speed up public investment - the motivator for economic growth. They stressed that amidst the global decline in demand affecting Vietnam's exports, accelerating the disbursement of public investment is an important and effective solution to improve the competitiveness of the Vietnamese economy and boost growth.

Minister Dung requested ministries, sectors, and localities accelerate the detailed allocation of capital plans, and take measures to separate compensation and site clearance tasks from investment projects, thus speeding up the implementation of projects./.

VNA
#administrative reform #disbursement of public investment #economic activities #economic growth #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Focal public investment key to effective disbursement: official

Focal public investment key to effective disbursement: official

A key measure to effective public investment disbursement is to promote investment with focuses, with priority given to regional linkage projects to create new socio-economic development spaces for localities, said Minister-Chairman of the Government Office Tran Van Son at a regular Cabinet press conference on March 3.
PM demands accelerated disbursement of public investment in HCM City

PM demands accelerated disbursement of public investment in HCM City

Prime Minister Pham Minh Chinh requested Ho Chi Minh City to make greater efforts to accelerate the disbursement of public investment while visiting and inspecting construction sites of several transport and health projects in the southern largest economic hub on April 15 afternoon.

See more

Loading and unloading steel products at Hoang Dieu–Chua Ve Port, Hai Phong city (Photo: VNA)

Hai Phong city seeks to boost inland waterway transport

According to the Hai Phong Maritime Administration, inland waterways carry coal, agricultural products, ores, stone, cement and other bulk cargoes, helping ease pressure on roads, particularly those connecting seaports and industrial parks.

Speakers at the conference (from left): AVPI Advisory Board Chair Dr Le Thu Huong, Australian Ambassador to Vietnam Gillian Bird, and Vietnamese Consul General in Sydney Nguyen Thanh Tung. (Photo: VNA)

Vietnam, Australia turn momentum into practical cooperation

Vietnam and Australia should focus on promoting two-way investment, expanding cooperation linked to APEC 2027 and making better use of people-to-people connections. Vietnam needs capital, skills, technology, infrastructure, and energy transition expertise - areas where Australia could offer valuable support.

The interface of the National E-Procurement System. (Photo: muasamcong.mpi.gov.vn)

Vietnam to move PPP bidding online from 2027

From January 1, 2027, PPP project proposals must be submitted through the National E-Procurement System. From September 1, 2027, investor selection for PPP projects tendered through open bidding will move fully online.

An automated robot-based production line at CAYI Technology Vietnam Co., Ltd. in Yen Phong II-C Industrial Park, Bac Ninh city (Photo: VNA)

EuroCham: Business Confidence Index in Vietnam remains high at 78.3 in Q3

The survey found that 64% of respondents described their current business conditions as good or very good, while 28% maintained a neutral or cautious outlook, reflecting a wait-and-see attitude as international demand remains flat and businesses look for policy momentum to translate into faster procedures and more predictable outcomes.

Workers manufacture handheld power tools at the Keystone Electrical Vietnam factory in Lien Ha Thai Industrial Park, Thai Thuy commune, Hung Yen province (Photo: VNA)

Vietnam seeks to turn FDI inflows into domestic value added

Vietnam is shifting its FDI attraction strategy from expanding investment volumes to prioritising capital inflows that brings technology, knowledge, modern management practices and stronger links with domestic businesses, particularly in semiconductors, artificial intelligence (AI), chips and renewable energy.

At Yadea Vietnam’s smart manufacturing plant in Tan Hung Industrial Park, Bac Ninh province (Photo: VNA)

Vietnam ties FDI incentives to local supplier commitments

Incentives will increasingly hinge on investors’ performance and commitments, not just on landing projects. Key commitments include transferring technology to Vietnamese firms, training workers, providing technical support and opening FDI supply chains to domestic companies.

Green SM has launched all-electric taxi service in the US. (Illustrative photo: VNA)

Green SM launches all-electric taxi service in US

The move brings Green SM into one of the world’s most dynamic and demanding markets. It also marks another step in the international expansion of the Vietnamese mobility brand, following its rapid growth across markets in Asia and Europe.

An overview of the meeting between IMF Managing Director Kristalina Georgieva and ASEAN Finance Ministers and Central Bank Governors (Photo: VNA)

Vietnam strengthens financial cooperation at IMF-World Bank annual meetings

The Vietnamese Governor underscored the complementary roles of global and regional financial cooperation mechanisms, including the Chiang Mai Initiative Multilateralisation (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO). He also highlighted the importance of technical assistance in fintech, digital transformation, cybersecurity and risk management.

Representatives of the organising committee at the opening ceremony of the fair (Photo: VNA)

Vietnam-Cambodia trade expo promotes bilateral economic cooperation

The Vietnam-Cambodia Business Networking and Product Promotion Exposition has become a key trade promotion event, creating business and investment opportunities while strengthening mutual understanding and trust between the two countries’ armies, people and enterprises.